Obviously the old news is posted as one of the first blogs on this page, this however is new and exciting information on the amendment to the Homebuyer's Tax Credit that now extends all the way to April 30, 2010! This allows for the buyer to take advantage of the credit so long as they are within a closing by June 2010. Not only is this $8,000 tax credit available to the usual suspects but also to non-first time homebuyers also. My webpage www.harrisrealestategroup.com goes into greater description about the tax credit and has information on CHFA's Jumpstart program.
Rules are a bit different for the"move-up" buyers, first stipulation is that is only a $6,500 and they must have had lived within their previous home as a principal residence, (deemed as where the individual spends the majority, more than 50% of their time), for 5 of the past 8 years.
There are a few new rules that apply to both first-timers and "move-up" folk. The income limits have been increased for both groups from $75,000 to $125,000 per single filer and from$150,000 to $225,000 for joint filers. Also the limit of the cost of the house has been extended to $800,000! In addition to all of these increases there have also been Anti-fraud measures added to protect this great opportunity for all of the law abiding citizens hoping to take advantage of such a phenomenal deal.
This new set in of the tax credit takes effect onDecember 1, 2009 and goes all the way through April 30, 2010, thus allowing a maximum closing date 60 days late so long as a binding contract is placed by the 30th of April.
Also be sure to visit my webpage at www.harrisrealestategroup.com to learn more about the tax-credit and to find AMAZING homes to take advantage of the credit on!